NEW YORK, April 15, 2024 /PRNewswire/ -- Lightstone and Converge RE II are pleased to announce the appointment of Craig Buck as CEO of Converge US. Mr. Buck will assume these responsibilities beginning May 1, 2024.

Mr. Buck will leverage his three decades of experience as an insurance industry executive to ensure that Converge achieves its strategic growth objectives while simultaneously overseeing the day-to-day operations.

"We believe that Craig's vast industry experience will be instrumental in guiding the continued growth of Converge," said Mitchell Hochberg, Chairman of the Board of Directors of Converge RE. "We welcome Craig to the team, and look forward to his leadership and continued success."

"I am thrilled to join the Converge team," said Buck. "This is an exciting opportunity to continue to expand the company's growth and fully realize its potential in the life and annuity reinsurance space. I look forward to getting to work."

Mr. Buck previously served as the Managing Principal of the Insurance and Actuarial Advisory Services practice of Ernst & Young LLP's Financial Services Organization. Before joining Ernst & Young LLP, he held a number of leadership roles at a major international insurance and retirement company and was the Americas Life Insurance Practice Leader and the North American Actuarial Practice Leader of Towers Watson, Inc. and Watson Wyatt Insurance & Financial Services, Inc. respectively. Mr. Buck is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.

Converge RE II is a Puerto Rico domiciled Class 5 reinsurer in good standing through the International Insurance Center (IIC), that  provides reinsurance solutions to life and annuity insurers seeking improved financial efficiency with the reallocation of capital through a well-capitalized A- financial strength rated reinsurance company. Converge Re II currently has in excess of $1.5 billion of AUM.

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone's over $9 billion portfolio currently includes over 13 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone's development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

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SOURCE Lightstone